LA – That’s short for Los Angeles, spanish for The Angels. That should probably now be changed to The Dodgers, which would be Los Esquiveros in spanish.
Renting Out a Loft, Condos or House: 3 Easy Steps to Manage a Property
How to Self-Manage a Property Easier, without Spending an Arm and a Leg
Greater Los Angeles Area — Whether its a Downtown loft condo unit or house in the suburbs, landlords and other property owners who rent out their properties often seek the easiest and most profitable way to: determine the maximum rent price by analyzing comparable homes recently leased nearby; advertise to find renters; screen for the best tenant; do the lease paperwork; negotiate to get the most money and best terms; coordinate the move-in; ensure that the tenant pays rent on time every month; handle the payment and do proper bookkeeping; maintenance and repair of things that need to be fixed; coordinate move-out (or try to keep the renter happy so they will stay a while); repeat the process for the next renter, and hopefully avoid having to evict a bad renter. This is all a tall order consisting of many tasks that most landlords don’t wish to take on all by themselves. #propertymanagement #alternatives #self-manage
To make matters more challenging, Southern California has relatively few property management companies, and so they tend to be expensive. Due to the nature of renters/manager relationships, they often tend to have poor satisfaction levels from tenants and property owners alike.
The State of California requires that property management companies be operated under the license of a real estate broker. Most real estate brokers, however, have no desire to do any property management because it tends to be fraught with complications, yet less profitable than real estate agent transactions with home buyers and sellers.
For landlords who prefer to mange their rental income property themselves with plenty of help from a team of successful professionals, the owner may receive payments directly, enhancing everyone’s satisfaction by communicating with the tenant directly, and let the professionals do most of the more difficult and tedious work. Some rental agents already have a list of the best renters who are looking for a place.
It generally takes help from three parties to get all of the work done helping landlords to easily self-manage at the lowest cost, with the best results:
Find and screen the best tenants, negotiate and prepare the lease paperwork
Accounting
Repairs and Maintenance
and rarely, evictions and other legal matters
Landlords and property owners may request a free list of rental income property specialist leasing agents, accountants, repair contractors and attorneys who specialize in helping self-managing landlords. Fill out the online form:
CNN and NBC have just reported that the stock market has experienced its worst month since 1931. The Dow is down 7.8% and the S&P 500 is down 7.6% this month. While the economy is still being termed as “strong,” 2019 and 2020 economic forecasts are dropping like flies. Real estate has hit a plateau, and quite possible the beginning of a slow and painful drop. The MEDIAN Downtown condo price is up while the AVERAGE price is now down. But don’t worry: this article will reveal the substantial upsides of a declining economy, and how to take full advantage. The LA Loft Blog brings you fully up to date, puts you ahead of the pack and reveals the way to recession RICHES.
KEEPING UP APPEARANCES
Mum’s the word: The mainstream media is nearly always 6 months behind in reporting about real estate and the economy, so it can be difficult to promptly find out the truth. While some have not had enough time to process the economic news, and others prefer not to be bothered by such depressing topics (especially during Christmas shopping season), Angelinos are generally known for maintaining a stiff upper lip when it comes to their financial woes. The mantra of “Fake It ‘Til You Make It” continues to ring true as most would-be home buyers today won’t blurt out an admission of “I can’t afford it,” but instead quietly hold off, content to rent in LA-LA Land until they feel a bit wealthier and/or they see the first glimpses of an economic turn-around. Of course, LA Loft Blog readers are craftily researching, planning ahead and gaining above-average returns. #realestate #crash
Another example of who’s ahead of the pack — Apartment owner/investors have done well, even during economic downturns. For years, the smart money billionaires have increasingly been putting their billions into DTLA new apartment construction. #riches
As we mentioned earlier, it is official: THE AVERAGE DOWNTOWN CONDO VALUE IS DOWN. No matter how bad things may or may not seem to get for the average Downtown loft owner, there are always plenty who are able to take advantage of every situation. In real estate, the big victors shall be those with the funds to snap up properties at the bottom of the market, or to exploit other super good deals. Also thriving in a dropping housing market are real estate professionals who specialize in foreclosures, distressed properties and auctions. With a total market down 6.7%, the typical flipper is flapping around like a fish with no water, while the ordinary real estate agent today is a dead duck.
GOLDEN OPPORTUNITIES:
The Grinch won’t be stealing Christmas from everybody. There are some investments and careers for those who don’t like their gooses to be cooked. There’s always money to be made in any market. It helps to know which businesses and industries are less affected, and which ones benefit from a sliding economy.
Stockmetrix.net has provided a recent report on large industries that are recession-resistant.
Big industries that PERFORM WELL during recession:
Heavy Electrical Equipment – Has been the least affected by the recent recessions. Also, it has shown no correlation with the stock market swings for many years. Others are Uranium, Diversified Mining, Oil & Gas Transportation Services, Phones & Handheld Devices, along with Drug Retailers.
Small to Medium Businesses that THRIVE during a recession:
Movie theaters (people are especially in need of distraction when times are tough), Beer, wine and liquor, Tattoo parlors, Candy, Cosmetics, Thrift stores, Home health care services, Veterinary services, Death care services, Tax accounting.
Others include all types of Healthcare – No matter what, people get sick or injured. Healthcare needs can even increase during recession due to the additional stress. Other recession-proof businesses include repair services (computers, cars, jewelry, homes); Staffing services with temporary employment; Education (including, schools, colleges, supplemental learning centers, tutoring services, and test preparation franchises); Senior care (including Home care services); Business services (payroll, PR services); Coupons; Debt settlement; Resale shops (sporting goods, designer clothing, consignment shops; and Property management.
Home Staging – Many people have never heard of this business, even though it has been around for a long time. During a difficult economy and the bursting of the housing bubble, it gets more difficult than ever to sell a home. A home stager has become vitally important. Simply put, a home stager makes the house look good and appealing to possible buyers. They know what buyers want and how to make the home appeal to them. Interior decorator find this a recession-resistant business.
CRASH WITHOUT THE BURN
The reality is that real estate is just one part of the wealth and success equation. The most successful keep their careers healthy while maintaining and growing a few different types of investments that balance well with real estate. “It’s been a great pleasure to help guide investors and friends to profitable directions for the last 25 years,” says broker Corey Chambers, “I judge my success by the millions and millions of dollars that I’ve helped them to gain, and also by the warnings and guidance that helps them steer clear of bad investments and other dangers.” While many of Mr. Chambers clients are Hollywood producers, Academy Award winners, Multi-Emmy Award-winning multimillionaires and super smart rocket scientists, he encourages the average person to divert some of their entertainment money into the joys of learning about investing. Corey reminds, “More than a few have invested just about $25.00 on Bitcoin and made thousands from it!”
BENEFITTING FROM THE BUBBLE
The most renown and trusty recession-time investments are gold, sliver and platinum. Short selling low-quality stocks, while risky, can be extremely profitable during hard times. For the daring, adventurous souls, Bitcoin and Ethereum continue to grow in popularity, and have delivered dramatically HUMONGOUS gains for bold, innovative thinkers who acted early or bought into its biggest low dips. Both volatility and long term outlook for Bitcoin are EXTREME. The winners buy on extreme crashes and sell on extreme run-ups. Check out Bitcoin Gauge free and subscribe to Bitcoin Gauge Pro.
Of course, distressed properties such as foreclosures, pre-foreclosures are the tried and true recession-time real estate opportunities. Get a free list of distressed properties. Fill out the online form:
